Tag
Legal Proceedings
6 articles
Legal and financial challenges are weighing heavily on Indian companies, raising concerns about their stability and future prospects. Several firms, including AJR Infra and Eros Media, face material going concern uncertainties due to significant liabilities and ongoing investigations, while Glenmark Pharmaceuticals reported a substantial net loss despite revenue growth, partly attributed to litigation provisions. These developments, alongside qualified audit opinions from Asian Hotels regarding subsidiary exposures and Mahavir Ship Breakers’ ongoing legal appeals, highlight increased regulatory scrutiny and potential risks for investors navigating the Indian market. The prevalence of litigation and financial distress underscores the importance of carefully assessing corporate governance and financial health when evaluating Indian investments.
Pearl City Marine NCLAT Appeal Judgment Reserved
NCLAT Chennai reserves judgment in company appeal filed by Pearl City Marine Products Pvt. Ltd. and others.
Appellants and respondents represented by senior counsels in hearing held on 31st July 2026.
Pramod Goel Appeals NCLAT Against Surya Foundry Insolvency
Pramod Kumar Goel appeals NCLAT order initiating insolvency against him as a corporate guarantor for Surya Foundry.
Appellant claims corporate guarantees from 2016 and its extension are fraudulent and
Mahavir Ship Breakers NCLAT Appeal Denied Interim Relief
NCLAT denies interim relief to Mahavir Ship Breakers in its appeal against the liquidator of Leel Electricals.
The tribunal issues notice to Respondent No. 3 and grants one week for the liquidator to
Eros Media Q1 FY27 Net Loss ₹743 Lakh Standalone
Eros International Media reported Q1 FY27 standalone net loss of ₹743 lakh and consolidated net loss of ₹1,043 lakh, with net worth fully eroded.
Auditors issued qualified review due to overdue interc
AJR Infra Q1 Net Loss of ₹1.89 Billion
AJR Infra reported a consolidated net loss of ₹188.91 crore for Q1 FY27, with standalone loss at ₹1.32 crore, driven by an impairment provision in a subsidiary.
The auditor highlighted a material unce
Glenmark Pharmaceuticals FY26 Reports Net Loss Despite Revenue Growth
Glenmark Pharmaceuticals reported FY26 standalone net loss of ₹2,008 million despite 27.5% consolidated revenue growth to ₹169,825 million, driven by ₹22,661 million exceptional expenses including lit